Transat Says Q3 Results Will Be Better Than Expected
Bruce Parkinson, Open Jaw
Transat A.T. Inc. has revised its outlook and is preparing to announce Q3 results that are “substantially better” than those factored in its most recent outlook, which was published along with its second-quarter results on 8JUN.
The company says Q3 revenues on both the transatlantic market – Transat’s primary market in the summer months – and the Sun destinations market were superior to those posted last year, especially since mid-June.
In addition, the airline costs were lower than expected, a trend reinforced by the combined impact of positive fluctuations in fuel prices and currency exchange rates.
“Subject to finalization of its financial statements, the Corporation now expects that its third-quarter adjusted net income will be significantly higher than that recorded last year, and similar to that of 2015, when it posted adjusted net income from continuing operations for the period of $26.9 million,” Transat said in a statement.
The company expects to issue an updated outlook for Q4 along with its quarterly results announcement on 7SEPT.
Bruce Parkinson Editor-in-Chief
An observer and analyst of the Canadian and international travel industries for over 25 years.